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Credit cards are not evil; just understand the maths to use it smartly

Don’t get into hacks like revolving credit card usage, and maintaining multiple cards, to get longer interest-free periods that many influencers promote these days.

April 29, 2022 / 08:56 AM IST

I am sure that I am not alone when I say that credit cards are extremely useful. But now and then, they do get a bad name when misused by a few.
So does it make credit cards evil?

Not at all.

Some feel that credit cards can tempt them into spending more than they should. But if that’s the case, then the problem is with the cardholder and not the card itself.

Recently, I was talking to a young cousin who ‘boasted’ of having seven credit cards. I asked whether these were just for vanity or if he used them as well.